Banco Santander : Agreement with Deutsche Bank, A.G. for the acquisition of the retail and private banking businesses from Deutsche Bank Polska, S.A.
December 14, 2017 at 01:12 pm IST
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MATERIAL FACT
Santander Group hereby announces that its subsidiary Bank Zachodni WBK, S.A., together with Banco Santander, S.A., has reached an agreement with Deutsche Bank, A.G. for the acquisition of the retail and private banking businesses from Deutsche Bank Polska, S.A. (excluding foreign currency mortgage portfolio) and including the shares of DB Securities, S.A. (Poland) for an estimated total consideration of EUR 305 million.
The transaction, which is subject to the required regulatory authorisations and the approval by the General Shareholders' Meetings of Bank Zachodni WBK, S.A. and Deutsche Bank Polska, S.A., will have a negligible impact, if any, on the Group's fully loaded CET1.
Boadilla del Monte, Madrid, 14 December 2017
Banco Santander SA published this content on 14 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 December 2017 07:41:04 UTC.
Original documenthttps://www.santander.com/csgs/Satellite/CFWCSancomQP01/en_GB/pdf/Agreement_with_Deutsche_Bank_14122017.pdf
Public permalinkhttp://www.publicnow.com/view/E793151689AE03BAF0B15B8B7018E9441ED4468A
Banco Santander, S.A. is Spain's largest banking group. The activity is organized into three sectors:
- commercial banking: retail banking activities and specialized financial services (consumer loans, mortgages, etc.);
- investment, financial and market banking: classic and specialized financing (financing acquisitions, projects, etc.), financial engineering (consulting on mergers and acquisitions, stock transactions, etc.), intervention in the stock, rate and exchange markets, etc.;
- asset management and private banking. The group also develops bank insurance activities through Santander Seguros and Banesto Seguros.
At the end of 2023, the group managed EUR 1,047.2 billion in current deposits and EUR 1,036.3 billion in current credits.
The products and services are marketed via a network of 8,518 branches worldwide.